Coal India may slip to Rs 320-315: Manghnani

Coal India may slip to Rs 320-315, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "Coal India is more of a profit taking call. The stock has bounced quite nicely from Rs 300 levels but I think Rs 334 to about Rs 342-343 is the supply zone. So if you get there, you can probably look at selling your holding or even shorting the stock with a stop just above that. I think it will head back to Rs 320-315 sort of range."
The company's trailing 12-month (TTM) EPS was at Rs 0.00 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 0.00. The latest book value of the company is Rs 43.54 per share. At current value, the price-to-book value of the company was 7.61. The dividend yield of the company was 1.18%.